Whey Protein Ingredients Market Report, published by Allied Market Research, projects that the global market was valued at $8,216 million in 2015, and is projected to reach $15,037 million by 2022, growing at a CAGR of 9.2% from 2016 to 2022. The whey protein concentrate segment held more than two-fifths of the total market share in 2015.
Whey proteins are derived from whey during the cheese production and are known for improving athletic performance. They are an alternative to milk for lactose intolerant people. Rise in applications as dietary supplements and functional food among consumers increase the demand for whey protein ingredients. Increase in proportions of millennial population is actively participating in casual sports and regular exercising and gives equal importance to enhanced protein intake. The inclination towards fitness and sports in on a rise. This factor fuels the demand for nutritional drinks and supplements. Furthermore, whey protein ingredients are being utilized in meat products owing to its solubility, water-binding & viscosity, emulsification, adhesion, gelation, and organoleptic characteristics. Moreover, whey protein concentrates are used to adhere breadcrumbs or batter to meat, and hence rheological characteristics of meat are retained. Furthermore, moisture retaining property of whey protein concentrate during meat processing also boosts the market growth.
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At present, the global whey protein ingredients market witnesses vivid opportunities due to increase in awareness among consumers for protein healthy diet. Moreover, whey protein concentrate is a nutritional supplement manufactured after the whey is passed through defiltration, ultrafiltration, electro dialysis, and ion-exchange processes. Whey protein concentrate is obtained upon the removal of certain percentage of non-protein constituents from pasteurized whey derived from cheese processing. Whey protein concentrate consists of low levels of carbohydrates (lactose). The percentage of protein in lower end concentrates ranges from 30 to 90%. Moreover, consumption of whey protein concentrate powder as supplements has increased owing to regular recommendations by dieticians and doctors in response to a wider set of customers demand for protein supplements in their diets.
Sports nutrition segment accounted for around one-sixth share, in terms of volume, in 2015. In response to the perennial modifications such as brining, baking, and texture of whey products among the bakery & confectionery industry as well as beverages industry, whey protein ingredients currently witness high demand across the globe. Thus, increase in demand for whey protein concentrates 80 and 35 especially in sports nutrition as protein supplements majorly fuels the market.
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Key Findings of the Whey Protein Ingredients Market Study:
- In terms of volume, the sports nutrition segment is projected to show highest growth rate of 8.0% during the analysis period.
- North-America is projected to maintain its lead throughout 2022, and is projected to grow at a CAGR of 6.8%, in terms of volume.
- Bakery and confectionery application segment occupied approximately one-sixth of the total market in 2015.
- China occupied for around one-third of the total Asia-Pacific whey protein ingredients market in 2015.
- In terms of value, Japan is expected to grow at a CAGR of 8.6% from 2016 to 2022.
In 2015, U.S. and Europe collectively accounted for more than half of the total whey protein ingredients market, and are expected to continue this trend due to increase in milk production and rise in demand for higher protein containing products, specifically in China, India, Japan, Brazil, and other developing economies. Moreover, rise in number of working women demanding whey proteins for infant formula and increase in trend of beverage industry to boost the protein content of products is the major reason that drives the growth of whey protein ingredients market.
The major companies profiled in the report include Arla Foods, Cargill Incorporation, Hilmar Cheese Company, Fonterra Co-Operative Group Ltd, Carberry food ingredients, Glanbia plc, Davisco Food International, Maple Island Incorporation, Dairy Farmers of America, and Milk Specialities Global.